13Content of report—small business trade credit payment times and terms statistics

13 Content of report—small business trade credit payment times and terms statistics

Information to be included in a report—general (1) A payment times report, for a reporting period for an entity, must include the following information: (a) the proportion of the total value of payments in the trade credit payments dataset for a reporting period that comprises payments in the small business trade credit payments dataset for the reporting period (expressed as a percentage); (b) the proportion of the total number of payments in the small business trade credit payments dataset for a reporting period that comprises payments that relate to a Peppol enabled eInvoice for the reporting period. Information to be included in a report—payment times (2) A payment times report, for a reporting period for an entity, must include the following information: (a) the average payment time (expressed as a number of calendar days) that represents the statistical mean for all payments (that discharged an invoice or obligation in full) included in the small business trade credit payments dataset for the reporting period for the entity; (b) the median payment time (expressed as a number of calendar days) for all payments (that discharged an invoice or obligation in full) included in the small business trade credit payments dataset for the reporting period for the entity; (c) the payment time (expressed as a number of calendar days) that is the 80th percentile of all payment times (ordered fastest to slowest) for all payments (that discharged an invoice or obligation in full) included in the small business trade credit payments dataset for the reporting period for the entity; (d) the payment time (expressed as a number of calendar days) that is the 95th percentile of all payment times (ordered fastest to slowest) for all payments (that discharged an invoice or obligation in full) included in the small business trade credit payments dataset for the reporting period for the entity (the 95th percentile payment time for the reporting period); (e) each of the following (expressed as percentages), as derived from the small business trade credit payments dataset for the reporting period for the entity: (i) payments that discharged an invoice or obligation in full for which the payment time was equal to or less than the payment term, as a proportion of all payments in the dataset that discharged an invoice or obligation in full; (ii) payments that discharged an invoice or obligation in full for which the payment time was 30 days or less, as a proportion of all payments in the dataset that discharged an invoice or obligation in full; (iii) payments that discharged an invoice or obligation in full for which the payment time was between 31 and 60 days, as a proportion of all payments in the dataset that discharged an invoice or obligation in full; (iv) payments that discharged an invoice or obligation in full for which the payment time was more than 60 days, as a proportion of all payments in the dataset that discharged an invoice or obligation in full. Information to be included in a report—payment terms (3) A payment times report, for a reporting period for an entity, must also include the following information: (a) the payment term (expressed as a number of calendar days) that represents the statistical mode of all payment terms for all payments (that discharged an invoice or obligation in full) included in the small business trade credit payments dataset for the reporting period for the entity; (b) whether the entity’s most common offered terms for payment (expressed in calendar days), within which payment is required to be made by a buyer of goods or services from the entity, is longer, shorter or the same as the statistical mode of payment terms as specified in paragraph (a); (c) if the entity is not a reporting nominee but has one or more controlled entities—the payment terms (expressed as a number of calendar days) that represent the statistical maximum and minimum of all of the following: (i) the payment term representing the statistical mode for all payments (that discharged an invoice or obligation in full), made by the entity, included in the small business trade credit payments dataset for the reporting period for the entity; (ii) a payment term for each of the entity’s controlled entities, representing for each controlled entity, the statistical mode for all payments (that discharged an invoice or obligation in full), made by the controlled entity, included in the small business trade credit payments dataset for the reporting period for the entity; (d) if the entity is a reporting nominee—the payment terms (expressed as a number of calendar days) that represent the statistical maximum and minimum of all of the following: (i) the payment term representing the statistical mode for all payments (that discharged an invoice or obligation in full), made by the reporting nominee, included in the small business trade credit payments dataset for the reporting period for the reporting nominee; (ii) a payment term for each of the reporting nominee’s nominated entities, representing for each nominated entity, the statistical mode for all payments (that discharged an invoice or obligation in full), made by the nominated entity, included in the small business trade credit payments dataset for the reporting period for the reporting nominee; (e) what the entity reasonably expects the payment terms mentioned in paragraph (a), and (c) or (d) (if, and as appropriate), to be for the next reporting period for the entity. Creating a trade credit payments dataset (4) An entity creates a trade credit payments dataset for a reporting period for the entity, as follows: